2002 (10) TMI 419

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.... that the Applicant is a subsidiary of the CRB Capital Markets Ltd. and hence would be liable to be wound-up along with the respondent-company-CRB Capital Markets Ltd.; that there is further possibility that the Applicant was a conduit for CRB Capital Markets Ltd., and, therefore, the Applicants assets ought not to be released; and that the shareholdings of the Applicant has not been disclosed, and since the Applicant is the party with knowledge of these facts, an adverse inference will be drawn against them. Mr. Batra, learned counsel appearing for the Applicant states that a report is already available. Meanwhile, the matter has been pending since 1997 and the present application since 1998. Therefore, sufficient time was available for fi....

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....this Court on many previous occasions. A Valuation had been ordered and has been completed consequent upon which the Applicant has consented to purchase furniture and fixtures at a total price of Rs. 2,00,000 as fixed by this Court in the order dated 9-5-2001. Counsel for the Applicant states that this sum shall be deposited with the official liquidator within two weeks, to be retained by the official liquidator in the Pool of CRB Capital Markets Ltd. Account. It is so ordered. 4. Learned counsel for the Applicant has further drawn attention to the order of my learned brother A.D. Singh, J. passed on 3-3-1998 in respect of another property similarly placed, but belonging to CRB Resources Pvt. Ltd. in CA 189/1998. The following order was ....